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Are you in need of a Transfer of Equity with a Intelligent Finance mortgage? Failing to check that a lawyer is on the Intelligent Finance list of approved solicitors can put your transfer at risk of delay or failure. Only LenderPanel.com provides a subset of authorised conveyancers for over 130 lenders.

Common questions relating to Intelligent Finance transfer of equity

  • Is there such a thing a transfer of equity stamp duty calculator?
  • My Intelligent Finance mortgage is in joint names with ex, who has agreed to come off the mortgage and let me have the property. Intelligent Finance have consented to the transfer of equity to me solely. Do Intelligent Finance write my employer to check my salary?
  • I am in the process of removing a name from a joint mortgage and the Intelligent Finance require me to use a conveyancing solicitor to carry out the paperwork. Can you recommend a reasonably priced Blaenavon conveyancer to deal with the transfer of equity? They need to be on the Intelligent Finance conveyancing panel.
  • I am trying to find a conveyancer to handle my transfer of equity. Intelligent Finance are dealing with the refinancing. I thought of asking my financial adviser. I am lead to believe he will likely get a kickback for recommending someone, but also of benefit will be that he knows the lawyer, has a working relationship with them. Is my logic misguided?
  • Me and my former wife and I are are seeking to find an affordable conveyancing solicitor to assist in a transfer of equity and refinance with Intelligent Finance. I want to avoid being ripped off and there are plenty conveyancing practices who do transfer of equity conveyancing out there...how do I know which one to select?
  • Our financial adviser has suggested using their conveyancing solicitor for the Transfer of Equity plus remortgage with Intelligent Finance - won’t it be easier to just use them?
  • Online reading suggests that solicitors are more expensive than conveyancers when it comes to transfer of equity conveyancing. Am I better of using a conveyancer or a solicitor where I need to be transferring equity and simultaneously refinancing with Intelligent Finance

Examples of information requested in a conveyancing solicitor questionnaire relating to Intelligent Finance Transfer of Equity

Please state the names and ages of anyone over the age of 17, other than the owners, who will occupy the property with you

Please confirm if you are making any payment for the Transfer of Equity and to whom and specify any such sums?

Please let us know of you wish us to draft you Declaration of Trust. If so are you willing to incur the further fee (beyond the Transfer of Equity fee)?

Is it the case that one of the registered proprietors passed away? If so please provide us with a copy of the Death Certificate, Probate and a copy of the Will.

Where you are adding a person on to the property how do you wish to hold the property? Please provide your instructions by completing and returning a“Joint Ownership Declaration” Questionnaire.

Please provide a copy of your National Insurance Number?

Information to consider in further to the above Intelligent Finance transfer of equity information :

Tax and Legal

There may be various tax and legal implications when transferring equity for your property. You should always seek the advice of a solicitor on the Intelligent Finance conveyancing panel and accountant before transferring equity.

Transfer of Equity Conveyancing for Leasehold premises

If your property is leasehold, provisions in the lease may have a requirement for notices to be served and that you have a license to do so from the landlord. If such conditions are not complied with you may be in breach of your covenants under the lease. This could potentially result in the freeholder taking enforcement action against you.

Indemnity Insurance

If the transfer of equity is made as a result of an Order of the Court, then Insolvency Indemnity Insurance is not required. In other cases, where a property is being transferred at less than market value between joint owners, an Insolvency Act Indemnity Insurance policy may be required. This is something that that your lawyer will check with Intelligent Finance This is because, if the outgoing party is made bankrupt in the future, their Trustee in Bankruptcy could argue that they had transferred the property in order to avoid their creditors and apply to the Court to have the transaction set aside. If this happens, it could affect your lender or a future buyer from you as they would lose the property and the lender may not get back what they have loaned to you. The Insolvency Act Indemnity Insurance policy only protects lenders such as Intelligent Finance or future buyers from you. If there is no mortgage and the outgoing owner is made bankrupt, there is a risk to you that you could lose your home if the transfer is set aside. The cost of the Insolvency Act Indemnity Insurance policy is dependent on the market value of the property at finalisation of the transfer of equity transaction.
Your property may be repossessed if you do not keep up repayments on your mortgage with Intelligent Finance.

Preparing the Transfer of Equity with a Intelligent Finance Mortgage

When it comes to preparing the the Land Registry documents your conveyancing solicitor should in the ‘consideration’ panel choose the first option, if consideration is given; otherwise ignore the consideration panel altogether.

If Intelligent Finance is joining in the transfer to release someone from liability, put the release in the ‘additional provisions’ panel if someone is entering into a covenant relating to the charge, place it in the ‘additional provisions’ panel stamp duty land tax is not payable when there is no chargeable consideration for the transfer (Schedule 3, paragraph 1 of the Finance Act 2003). In the case of a transfer subject to a charge (even if the transfer is by way of gift) or if a property has been transferred for no value and there is an associated discharge, HMRC would view this as an assumption of an existing debt by the purchaser (Schedule 4, paragraph 8 of the Finance Act 2003) and stamp duty land tax may be payable if you wish you may state in the ‘additional provisions’ panel that ‘This transfer is made subject to a charge dated… in favour of…’

On form AP1, your conveyancer should describe the transfer as ‘transfer of equity’ to assist Land Registry staff.

Information provided on this webpage is for general information and only applies to England and Wales. It does not constitute advice for members of the public who should contact their lawyer,mortgage broker, insurer and accountant for specific advice relating to transfer of equity. Whilst we endeavour to keep the information up to date and correct we do not make any representation or warranties of any kind about its completeness, accuracy, reliability or suitability. Any reliance you place on the information is strictly at your own risk. Lexsure will not be liable for any direct or indirect loss or damage arising out of or in connection with the use of this information.


Frequently asked questions relating to Intelligent Finance transfer of equity